Guideline Value for KALINGARAYAN STREET

Kalingarayan Street guideline value

The current guideline value of Kalingarayan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Kalingarayan Street has changed

The guideline value for Kalingarayan Street has undergone several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an 11% rise. The value then saw a further increase of 16%, reaching Rs 900 per sq.ft in 2007. The next significant jump occurred in 2012, when the value rose by 400% to Rs 4,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous revision in 2012.

It is important to note that there are no figures available for Kalingarayan Street in the 2017 and 2023 revisions. Overall, from 2002 to 2024, the guideline value has increased by 601%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Kalingarayan Street's 2024 figure is below this median.

• Kallukkaran Street: Rs 7,100 per sq.ft (2024)
• Kalvaikarai Salai: Rs 8,200 per sq.ft (2024)
• KALVAIKARAI SALAI (Nadukuppam South Side): Rs 3,300 per sq.ft (2024)
• Kalvivaru Street: Rs 14,300 per sq.ft (2024)
• Kamarajar Salai: Rs 15,900 per sq.ft (2024)
• Kakanji Nagar: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kalingarayan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalingarayan Street?

Kalingarayan Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. Buyers and sellers need to consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalingarayan Street?

The current guideline value of Kalingarayan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 699 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 601% over this period.

What are the stamp duty and registration fees for properties in Kalingarayan Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office handles Kalingarayan Street?

The Mylapore Sub Registrar Office handles Kalingarayan Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Kalingarayan Street?

Kalingarayan Street is classified as Residential Class V Type - II, indicating its use for residential purposes within the Mylapore village.